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Liontown Resources Ltd.
Summary
| Project: | Bynoe | |
|---|---|---|
| Deposit: | Bynoe | |
| Location: | Australia | |
| Commodities: | Lithium | |
| Date: | 11/2/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 2-11-2016: Liontown Resources Ltd. announces an Exploration/Drilling Update report for its Bynoe deposit at the Bynoe project. Drilling results incl. 27m @ 1.1% Li2O from 94m. Liontown Resources Limited (ASX: LTR) is pleased to advise that it has received | |
| Resources: | x | |
| CP/QP: | [Overall Report]: David Richards (Internal) | |
| ABSTRACT: | Liontown Resources Limited (ASX: LTR) is pleased to advise that it has received the first batch of assays from its second drilling program at the Bynoe Lithium Project, located immediately south of Darwin in the Northern Territory (Figure 1), with results confirming extensions to the previously defined Sandras Prospect and returning additional thick intercepts of spodumene-related lithium mineralisation. The recently completed drilling program at Bynoe, which comprised 34 Reverse Circulation (RC) drill holes for a total 3,750m, tested 15 prospects. Assay results are awaited for 10 prospects (see Appendix 1 for a full summary of drill statistics). The program was designed to follow up previously reported plus >1% Li2O intersections at Sandras, Talmina West, Rocky Ridge, BP33 and Lees as well as ten other mapped pegmatite targets where no previous drilling had been undertaken (Figure 2). The latest drilling at the Sandras Prospect (Figure 2), together with previously reported intersections, have defined a 200m long, steeply-plunging shoot (with a true width up to 35m) within a larger pegmatite body which remains open and largely untested along strike (Figures 3-5). These results are in addition to previously reported intersections from the maiden drilling program which included intercepts of up to 42m at 1.0% Li20 from 93m (see ASX Announcement dated 26th July 2016). Liontown’s Managing Director, David Richards, said that together with recently reported results from its neighbour Core Exploration, the drilling program had confirmed that the Bynoe Project hosts widespread oregrade spodumene-associated lithium mineralisation in a favourable location just 50km from Darwin. “The scale and extent of the field is apparent from the limited amount of work we have completed to date,” he said. “With assay results awaited for a further 10 prospects, we are very encouraged by what we have seen to date, and we believe the potential to delineate an economic lithium deposit at Bynoe is high – particularly considering its proximity to Darwin.” | |
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